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How data protection is redefining customer trust in financial sector
Data protection law affirms the right of individuals not to be subjected to decisions based solely on automated processing. Customers should not be reduced to data points, especially when automated decisions have real economic consequences.
For decades, confidentiality has been the foundation of trust in Kenya’s financial sector. Banks, Saccos, insurers, and investment firms have long assured customers that their financial affairs would remain private, shielded from prying eyes and improper disclosure. That promise was not merely ethical; it was central to why people trusted financial institutions with their money in the first place.
But today, the nature of that trust is being tested.
